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San Mateo, CA: Coupa Software, the business spend management (BSM) firm, announced today the rollout of its student loan repayment assistance program, a new employee benefit to help workers pay off their burdensome student loans - faster. The company is partnering with Tuition.io, the platform for employee student loan contributions, to administer the program.

As part of the benefit, participating Coupa employees will receive monthly contributions to help pay down the principal of their student loans. This benefit extends to Parent PLUS loans, which are loans parents take out to help their children finance college. It also applies to the student loans of employees’ spouses and domestic partners. The program is available starting today for full-time employees across the U.S.

“With more than 44 million Americans weighed down by student loan debt, we recognize the importance of offering a benefit that helps our employees overcome this burden and start building toward their future sooner rather than later,” said Ray Martinelli, executive vice president of people at Coupa. “Tuition.io’s platform allows us to offer the most seamless and integrated approach for our employees to not only tackle their own debt but that of their extended families as well. It reinforces our commitment to our employees’ success.

Recent survey results show 86 percent of Americans say they would commit to working for an employer for five years if the company helped pay back their student loan. Coupa, which was certified in 2017 as a “Great Place to Work” by the Great Place to Work® organization, hopes to attract and retain the best talent in the market. Ninety-two percent of employees say they are proud to work for Coupa.

“Coupa has a long history of championing a people-centered corporate culture, and this is another way to continue their mission of offering best-in-class employee benefits,” said Scott Thompson, CEO of Tuition.io. “With the student debt crisis continuing to escalate, it is not a matter of if, but when companies will do their share to find solutions. We are excited to work with Coupa as they lead the way.”